The Premier League returns this weekend, with Arsenal looking to extend their lead at the top of the division.
One team stands in their way in the shape of Burnley, who are looking to build on their dramatic win over Wolves last time out.
For many, it is tough to look past the impact of Mikel Arteta’s side for the victory, as a superb October saw Arsenal win every game without conceding a single goal in all competitions.
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It’s no surprise, given the quality that the Gunners have in their squad, following a summer of heavy spending.
In comparison to Burnley, Arsenal have a squad which truly shows the value of being at the top of the Premier League.
Mikel Arteta looks on during Arsenal vs Brighton
Photo by David Price/Arsenal FC via Getty Images
How much did Arsenal’s squad cost compared to Burnley
Arsenal’s early dominance at the top of the Premier League table has shown what can happen when staying competitive and then investing in the team.
It’s a world away from Burnley, who are still newly promoted after another season in the Championship.
The Clarets will be hopeful of surviving this campaign to feel the cumulative effects of the Premier League’s riches, but they face a challenge in doing so.
Not least when facing a team like Arsenal, as TBR Football’s finance expert, Adam Williams, explained.
On the financial foundations of the two clubs, he said: “Financially, Arsenal and Burnley are in different universes. Both clubs segment their revenue, meaning all money earned before player trading or costs are deducted, into three streams: matchday, commercial and broadcast.
“Pretty much since the inception of the Premier League, at least until relatively recently, broadcast income was always by far the biggest of the three revenue streams, for every team in the top flight.
“However, the so-called ‘Big Six’ have started to buck the trend in recent years. In 2023-24, the last published financial year, broadcast income accounted for £262 million of Arsenal’s total revenue of just under £614 million.
Club Signings made Money spent
Arsenal 8 £252m
Burnley 14 £107m
Arsenal and Burnley’s summer transfer business compared.
“But Burnley are much, much more reliant on TV income. In their last set of accounts, overall revenue was £134 million, of which media cash accounted for £111 million.
“So, for every pound that Burnley earn, Arsenal generate over 4.5 pounds. That’s reflected in their respective wage bills. In the last financial year, Burnley paid players and staff £93 million, whereas Arsenal’s payroll was £328 million.
“See also: amortisation, which is how clubs account for transfer fees. Arsenal’s figure here was £171 million, while Burnley’s was a fraction of that at £43 million.
“Arsenal, of course, have the benefit of playing in Europe, which their owners are now probably budgeting for at least £80 million in prize money alone each season. On top of that, you have extra matchdays at the Emirates, which they can earn £4 million per go from.
“Indeed, matchday income at Arsenal in 2023-24 totalled £132 million, which was almost as much as Burnley’s entire turnover. All of that exposure and brand power results in higher commercial income from sponsors, merchandise sales and so on.
“When you look at the amounts earned and spent by clubs at opposite ends of the spectrum through this prism, it’s a wonder that the Premier League isn’t even more stratified than it already is. If money earned and spent matched up perfectly with points won, it would be much more stark.
“Arsenal’s squad cost – which is amortisation plus wages – was £499 million at the last count. Burnley’s was £136 million. So for every pound Burnley spend, Arsenal spend 3.7 pounds.
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“Let’s say Burnley finish on 40 points this season, as they are on track to do after a quarter of the season gone. If Arsenal’s squad cost relative to Burnley’s was an exact measure of how much better they should do on the pitch, that would mean they would finish the season on 147 points.
“Of course, that’s not possible. But it’s emblematic of the fact that, broadly speaking, it’s diminishing returns when you push towards the very top of the spending table in world football.”
It’s a huge gap, one that cannot be bridged easily.
However, football isn’t played on paper, and Burnley are looking to continue their momentum with a potential upset against Arsenal.
Burnley v Leeds United - Premier League
Photo by Molly Darlington/Getty Images
Arsenal hold 16-year head-to-head record over Burnley
While the current era of Premier League dominance is starting to show in the finances, Arsenal are a team that seem to have a knack for beating Burnley anyway.
In the past 16 years, Arsenal have only lost once to the Clarets in 20 meetings across all competitions.
That defeat came in December 2020, with the Gunners picking up 15 wins in the surrounding period.
The current iteration of Burnley are looking to add a tougher edge to the side in search of survival this season.
The early results are promising, but it remains to be seen if they can overcome Arsenal in the process of adding more points to their tally.